PegBio of Suzhou has raised $20 million in an E Round from Tasly Pharma, a unit of Tianjin’s Tasly Pharma Group, one of China’s ten largest pharmaceutical companies. PegBio, a pegylation technology specialist, develops extended-release products. The company is developing Pfizer’s glucokinase inhibitor for China, a clinical-stage treatment for type 2 diabetes. It is also working on its own glucagon-like peptide-1 (GLP-1) (with a pegylated coating) for diabetes 2, a treatment that requires only once-weekly injections.
